Technical Field
The present disclosure generally relates to systems and methods for identifying risks of future fraudulent activity based on prior instances of merchant fraud, and more particularly, and without limitation, to systems and methods for that provide customers with information identifying risks of future fraudulent activity associated with merchants.
Background
Today, customers routinely purchase goods and services from merchants using non-cash payment instruments, such as credit cards and debit cards. Financial institutions and other issuers of such non-cash payment instruments rarely inform their customers of a risk of fraudulent activity associated with a potential transaction involving a specific merchant. Indeed, customers often become aware of the potential for such fraudulent activities only after they become victims of illegal card skimming or an unauthorized use of a credit or debit card. With information identifying the risks of potential merchant fraud, customers may select merchants and specific payment instruments that reduce their exposure to fraudulent activities. Aspects of the disclosed embodiments address these and other concerns regarding risks of fraudulent activity associated with merchants and/or financial transactions.